All Forum Posts by: Tom Nguyen

@Kevin Romines are you sure they do max 4 properties ? Because I just check today and they only do up to 3 properties. Do you have to call them to get 4 properties ? 

@Calus Glispie If the deal is good and there competition out there. I would put even $10k or more to secure the deal. 

Make sure to have contingency to get back EM money if deal not closing.   

Uncle GC said that start 16 units is OK Start but preferable 32 units. I am going to trust Uncle G that your 24 should be fine. 

Tim, It depend on where you live and how long you hold the property. If less than 1 years, you can face up to about 48% tax. 

around 15 % Self Employment tax, 25% federal tax and 7% state tax and 1.1 BS tax if you in that bracket. 

You can't do 1031 exchange unless it rental 

IF she accept the price I quote above, You can go to HML and they will lend everything for you with no money down. Maybe couple thousand on fee.

IF she said make an offer then here is my formula for calculating those thing:

ARV ( $275k) x .07 minus the rehab = Price

SO I would offer maximum $142500. 

If they do owner finance , you can offer little more. 

It always depend on the deal. How much is your Capital Gain and how long you own it ? The longer you own it, the more tax you pay because you depreciated every year. 

If you think market is all time high and you really love this property and it will cash flow.

best option would be Cash out Refinance at 80 LVT and pocket the different without paying the tax man. It will be your money in your pocket. 

I learn from one investor " Know you exit " 

It would be your choice to sell or keep if you know what your exit would be. Do you want to get cash flow over two years or get a lump sump now. What would you do with the capital gain minus tax consequence ?  are you 1031 exchange ? 

Hi, We would need more information on the deal so we  can talk about several option.